Simon Stiell: G20 leaders urge to agree ambitious financial target at COP29

G20 leaders sent a clear signal to COP29 negotiators - don't leave Baku without an ambitious new financial goal, as it serves the interests of all countries, said UN Climate Change Executive Secretary Simon Stiell, commenting on the G20 Leaders' Declaration in Rio de Janeiro, Report informs.

"G20 Leaders have sent a clear message to their negotiators at COP29: do not leave Baku without a successful new finance goal. This is in every country’s clear interests. Leaders of the world’s largest economies have also committed to driving forward financial reforms to put strong climate action within all countries’ reach. This is an essential signal, in a world plagued by debt crises and spiraling climate impacts, wrecking lives, slamming supply chains and fanning inflation in every economy. Leaders have reinforced that global cooperation is utterly essential, and COP29 must show how’s it done, with an ambitious new finance goal, as the central pillar of a balanced package," he noted.

"Stronger new national climate plans are also essential, as the G20 leaders note, to move much faster to a clean-energy and climate-resilient global economy right now. G20 delegations now have their marching orders for here in Baku, where we urgently need all nations to bypass the posturing and move swiftly towards common ground, across all issues," he added.